Not considering reduction of taxes on petrol, diesel: FinMin

The government is not considering any reduction of taxes on petrol and diesel, Parliament was informed on Friday.

"Government has no such proposal under consideration at present to reduce taxes on petrol and diesel," Minister of State for Finance Santosh Kumar Gangwar said in a written reply in the Lok Sabha.

On unbranded petrol, central excise duty is currently Rs 21.48 per litre, additional duty of customs is Rs 6 per litre, while basic customs duty is at 2.5 per cent.

On branded petrol, central excise duty is currently Rs 22.66 per litre, additional duty of customs is Rs 6 per litre, while basic customs duty is at 2.5 per cent.

On unbranded diesel, central excise duty is currently Rs 17.33 per litre, additional duty of customs is Rs 6 per litre, while basic customs duty is at 2.5 per cent.

On branded diesel, central excise duty is currently Rs 19.69 per litre, additional duty of customs is Rs 6 per litre, while basic customs duty is at 2.5 per cent.

As on March 1, petrol price in the national capital stood at Rs 71.14 per litre, while diesel at Rs 59.02 per litre.